The term "market failure" a. refers to the dissolution of a market when firms decide to quit producing a certain product. b. refers to government's failure to enforce the property rights of households or firms that participate in a certain market. c. refers to the failure of a market to produce an efficient allocation of resources. d. means the same thing as "market power."

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation

Brody corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. beginning inventory for january consisted of 1,050 units that were 65% completed. 10,900 units were started into the process during january. on january 31, the inventory consisted of 500 units that were 50% completed. what would be the equivalent units for direct materials cost using the weighted average method?

The sign at the bank reads, "wait here for the first available teller," suggests the use of a waiting line system. a. multiple server, single phaseb. random server, single phasec. single server, multiphased. multiple server, multiphasee. dynamic server, single phase